Introduction Under the code, the personal guarantor defined u/s 5(22) of the Insolvency and Bankruptcy Code, 2016 (“IBC“). A personal guarantor is a person who acts as the surety in a contract of guarantee to a corporate debtor. Section 60(1) of the IBC 2016 deals with the provision related to the initiation of the insolvency … More Corporate Insolvency Resolution Process against the Personal Guarantor Under Insolvency and Bankruptcy Code, 2016.
Introduction The application for the initiation of the corporate insolvency resolution process by the operational creditor is addressed in Section 9 of the I&B code 2016. This section addresses the provision concerning the filing of an application by the operational creditor against the corporate debtor demanding payment of the operational debt in respect of which … More Corporate Debtor’s objection raised u/s 9 of the IBC 2016.